More oil discovered at Lancetfish-2

Last Updated on Thursday, 26 October 2023, 9:36 by Denis Chabrol

ExxonMobil, the operator in the Stabroek Block, has reportedly found more oil at the Lancetfish-2 appraisal well, the Ministry of Natural Resources said Thursday.

Government described the find as a “significant discovery”.  “The Lancetfish-2 discovery in the Liza Petroleum Production License area has unveiled an estimated 20 meters of hydrocarbon-bearing reservoir, along with approximately 81 meters of additional hydrocarbon-bearing sandstone.”

The Natural Resources Ministry said that newly discovered reservoir will undergo a comprehensive appraisal process, which aligns with the ongoing appraisal activities for other discoveries in the region.

ExxonMobil Guyana declined to add anything more to the government’s statement.

Government said that marked the fourth offshore discovery in Guyana for the year 2023 and brings the total number of discoveries from
2015 to date to a total of 46. The earlier discoveries made in 2023 include Fangtooth SE-1 and Lancetfish-1 in the Stabroek Block, as well as the Wei-1 discovery in the Corentyne Block.